Qualitative woes continue for Creston group

UK-- Creston today reported “robust” trading over the past nine months in its core market research agencies ICM and Marketing Sciences – but said problems persist with its qualitative business CML Research.

Qual research revenue was down year-on-year in the April to December period, however revenue for the group as a whole was up 4%. Operating profit after head office costs rose 18%, the company said.

In a statement, Creston said it was “realistic about the tough trading environment” in the UK but that the firm was “on course” to meet expectations for the financial year.

More than 70% of the group's revenue comes from direct and digital marketing, healthcare marketing and market research activities, with advertising contributing 21%.

Creston first flagged the “underperformance” of CML and its sensory panel firm MSTS in its half-year results. MSTS is now part of Marketing Sciences.

Author: James Verrinder